Question: What does the vertical distance between the points and the line in the graph represent? Simple linear regression results: Dependent Variable: Income Independent Variable: Education

What does the vertical distance between the points and the line in the graph represent?

Simple linear regression results: Dependent Variable: Income Independent Variable: Education Income = 5799.3538 + 2993.2763 Education Sample size: 18 R (correlation coefficient) = 0.88533684 R-sq = 0.78382133 Estimate of error standard deviation: 3163.1636 Income 60000 55000 50000 Legend Fitted line 45000 40000 12 13 14 15 16 17 18 Education

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